South Africa Removes Central Energy Fund Chairman Luvo Makasi

Makasi, a director and chairman of the board at the CEF, which oversees South Africa’s state-owned oil company and energy assets, responded to the allegations, the energy ministry said Saturday in a statement without providing details. It didn’t immediately reply to an email seeking comment.

“Having considered Mr. Makasi’s written response, the Minister on 15 March wrote to Mr. Makasi, removing him,” the ministry said.

To contact the reporter on this story: Paul Burkhardt in Johannesburg at pburkhardt@bloomberg.net

To contact the editors responsible for this story: James Herron at jherron9@bloomberg.net, Andrew Reierson, James Amott